Filed June 4, 2024 (most recent of 4 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.1 year Service code 15 · EIN 94-1347393 | Recordkeeping | $43,345 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $53,994 | $64,286-16.0% | $90,970-40.6% | $73,412-26.5% |
| Participation rate | 66.0% | 63.6%+2.5pp | 69.0%-3.0pp | 72.2%-6.1pp |
| Annual return | 10.35% | 21.46%-11.1pp | 134.60%-124.2pp | 59.30%-48.9pp |
| Employer contribution / active EE | $1,518 | $895+69.7% | $2,122-28.4% | $2,234-32.0% |
| Participant deferral / active EE | $2,922 | $2,453+19.1% | $3,373-13.4% | $3,806-23.2% |
| Admin fee / account holder | $112 | $287-61.0% | $5,961-98.1% | $158-29.0% |